Heritage Insurance Partners with Akur8 to Expand Their Pricing Capabilities Across Personal and Commercial Lines of Business

September 12, 2024

Akur8, the next generation insurance pricing solution powered by transparent machine learning, is thrilled to announce its partnership with Heritage Insurance, a leading property and casualty insurance holding company headquartered in Tampa, Florida. Heritage has selected Akur8’s Risk modeling solution to improve and enhance their pricing analytics and rapidly build transparent, production grade predictive models. Through this agreement, Akur8 further expands its presence within the personal and commercial insurance marketplace in the U.S.

Developed explicitly for insurers, Akur8’s solution enhances pricing processes by using proprietary machine-learning technology. The core benefits for the P&C insurance marketplace include accelerated model building, transparent GLM outputs, and data-driven underwriting.

“We are excited to work with Heritage, a strong company with a seasoned senior management team. Akur8’s software will empower their pricing team to move faster and modernize their pricing processes. This partnership demonstrates the relevance and attractiveness of Akur8’s solution for insurance providers across all lines of business,”  said Samuel Falmagne, CEO at Akur8.

Brune de Linares, Chief Client Officer at Akur8 added, “Teaming up with such a well-known and established company like Heritage Insurance, with a large and respected network of experienced agents, is an exciting step in the growth of Akur8’s solution in the U.S. market.”

Heritage Insurance Holdings, Inc. is a super-regional property and casualty insurance holding company. Through its insurance subsidiaries and a large network of experienced agents, the Company writes approximately $1.3 billion of gross personal and commercial residential premium across its multi-state footprint.

“Akur8’s solution has been incredible in enabling our pricing team to work better and faster. For a new modeler, the platform is very user-friendly and is easy to get comfortable with, which has allowed us to seamlessly integrate the solution and quickly improve our pricing sophistication and predictive performance.  Akur8’s software supports Heritage’s mission to best serve our policyholders by delivering exceptional homeowner’s insurance products at the most affordable prices,” stated John Wiechecki, Chief Reserving Actuary at Heritage.